Germany Shows its Metal

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Jun 03, 2013, 09:20 ET

BERLIN, June 3, 2013 /PRNewswire/ --

The largest industrial employer, the leading exporting industry and often the most important partner in developing innovations: mechanical engineering is key to the German economy.

In no industry is Germany's economic resilience more apparent than machine-building and engineering, an industry which Germany continues to enjoy steady growth. Having navigated 2012 without a dip, the 2013 forecast is for a 2% growth in production and a nominal increase in turnover of 3.9%, bringing both figures to record levels. Since January, Germany's export order sheets have begun filling up faster again.

"The end of the special steel boom in China and massive development of capacities in the country's metallurgical equipment industry are symptomatic of developments in the world market," explained Dr. Timo Würz, Managing Director of the German Engineering Association's (VDMA) specialist Metallurgical Plants and Rolling Mills Association.

This year's World of Industry (WIN) Metalworking Fair is in Istanbul from June 6-9, where Germany Trade and Invest will be explaining what makes Germany's machine-building industry function so smoothly and durably, and outlining the opportunities investment in the German machine-building sector presents.

"Germany is a paramount partner for Turkey in this industry," says Jerome Hull, Manager Machinery and Equipment Technology at Germany Trade and Invest.

"The two countries present complementary solutions to each other. Germany has the manufacturing and engineering quality as well as being a gateway for Turkish companies to Western European markets, while Turkey's middle eastern ties open doors for German companies throughout that difficult-to-reach region."

"Some 60% of Turkish foreign direct investment projects in Western Europe are in Germany as the country strives to upgrade its infrastructure, particularly in the automobility, electronic and household appliance industries."

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

Germany Trade & Invest
Andreas Bilfinger
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SOURCE Germany Trade and Invest